The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-09-22
THE STREET RAILWAYS.
A Cable LIne Proposed for Aain
Street b. Capitalists.
Some Pertinent History ~ 10 the
street Raflways-Hs
O6ense.

stands, will shortly be made TO the
Taxing District government by q com.
pany with a guaranteed and sufii.
cient capital for the right Of way
over Main street for q street car
cable line, the franchise to In.
ure when the charter OF the old
street car company expires OF Is de-
clared void by the courts. This com.
psny will, the APPEAL understands,
propose to pay the Taxing District
government the sum OF 100000 for
the right, or $4,000 per year. Men
who are In this company are men Of
money and brains, and have employed
q great deal Of the best legal talent In
the city for the purpose Of aggressive
warfare In case the old street car com.
pany attempts to intervene to prevent
the contamination OF their designs.
The offer Of this cable company ex.
plains, 10 some extent, the value OF
the iranchisei which will expire by
limitation In six and q half years, II Il
10 not declared null and void by the
courts before that time.
II 10 TO Mr.. Hadden's refusal TO sur.
render the city's right In the charter
Of the old street railway company
that We owe the indictments now
pending against him In the Criminal
Court. This involves q history Of
great interest 10 the pc; pie OF Mem
phis, which we will now give.
THE HISTORY.
The CitiEsnst 3 rect Railroad Com.
pany was organized and chartered in
obedience TO the demand OF the pub.
lie, Tor como measure OF relief or CO.
cape from monopoly, which ran
dirty cara drawn by poor and Ill fed
mules, lnconvenient as TO time aud
speed and an harassment rather than
q convenience 10 the people.
The Citizsns' street railroad, from
the first OF It's inception, met the pnb.
lie anticipation and gratified
its demands. lis rails were
we'll ard securely laid on
good grades and its cars were
clean and run on schedule time. The
people were delighie and fol. satis-
fed that the new line would force the
old company up to the high water
mark oi lie own excellence Ia speed.
comfort and cleanliness. This they
felt was especially assured by the off
GERS and stockholders OF the new com.
pany, because they had pledged hem.
selves eolemnly that under no circum.
stances would they unite with the
old. Bat sitter a short lime
the people found themselves
doomed to disappointment. The two
companies, 90 fierce In their antago.
nisms for awhile, were at last united.
The perfection Of their plane, however,
depended on the consent OF the
Taxing District government. This
they were unable 10 procure except |
upon the terms stipulated by the
council. Alter many interchanges OF
thought, idea and purpose, and some
vranRling, II was agreed that the new
company should, fr the city's agree
ment 10 the extension q the charter OF
The old company 10 the period OF
limitation Of the new, being twenty
eight yssrs, pave Main street from
gutter to gutter with the anes. pro-
durable block pavement from the
Louisville 10 the Tennessee depot, be-
sides which the street car company
pledged itself 10 pave with stone be-
tween oil the existing tracks and
Two lie. on each side OF them, 1
and thereafter 10 pave all streets they
might occupy In q similar manner.
Mr.. Napoleon Hin. president Of the
new, or Citizens Street Railroad Com
tAny, and X, Dudley Frayser, presi.
dent Of the old company, pledged their
respective companies 20 this pgroe
ment, and upon Mr.. HIS personal
application IL was ratified frat by the
Taxing District Council,
The boards Of directors OF the two
companies, upon considering this
agreement, determined TO refer ito rAu
hcatlon 10 their stockholders. BY
thee II was declined. They refused 10
ratiiy ~, whereupon the Taxing DIS.
trict Council withdrew la ratification
and the whole matte' fell 10 the
eround. Mr.. Hidden then declared
that the Taxing District government
would never confent 20 the
merging OF the two street rail.
way companies; that, releafed
IRON oil obligation 10 that end,
would, upon the expiration Of
the term oil the charter OF the old com.
pany, put Mp lie privileges at auction
and cell them 10 the highest bidder. a.
bad been done In New York, where
the street privileges applied iir by a
prospective line OF cable street railroad
had been cold al suction In the city =
behalf Tor 40 per cent. per sntum OF
lie gross receipts, 10 be paid into the
city treasury. The privileges OF the
old street car company Ct Memphis are
worth fully a. much. The two street
car companies, when they proprc 1 "a
merge into ore, were valued, the new
company al $4,000, and tie cd Ai
$4,000, though really la tqulpme nj
could have been replaced with better
ralls and better ears for 100000.
The Income al the Joint concern u
said 10 be $500 per day, or $500, OOC
per year, $4,000 moro than lie stated
cot, snd nearly $500. 900 more than n,
real ooet.
These are enormous earnings which
are destined 10 increase with every
Increase OF population In the city.
The consolidated street railroads, n
will thus be seen, could easily
pay Tor their street privileges 81
per cent. Of their gross earnings, .
sum equal 10 s2iO,OO0-or 10000 PEI
annum-more than the lnterett on III,
city debt. This is what Mr.. Hadder
Ia Sighting Tor, and II is generally be
lieved that II IL becauie he IL tightln,
Tor II and for the peoples best inter
eeis, that be Ia being prosecuted, pros
ecuied and bounded 90 death. IN,
Taxing District government mn,
never be permitted 10 part with Thu
valuable franchise. The ptople o
Memphis have been liberal, and hAy,
gwen away a great deal 10 street a
well ~ steam railroads, and Il IL nov
time they were getting come returns.
The proposed cable car company
which comes up add honestly sdmit
that tho franchise on one sireet |